WASHINGTON – Today on the floor, U.S. Senator John Cornyn (R-TX) called out President Biden for refusing to negotiate with Congress to avoid a catastrophic default on the national debt. Excerpts of Sen. Cornyn’s remarks are below, and video can be found here.

“This week, the House is expected to vote on legislation to begin to rein in Congress’ out-of-control spending and avoid a debt default.”

“If the United States defaults on these debts, all of our challenges will only get worse. Social Security and Medicare benefits would be delayed. Members of the military and federal employees would not get paid. We could see skyrocketing mortgage rates, sinking stock prices, and instability all across our economy.”

“It’s clear that America’s borrowing and spending are unsustainable.”

“Unfortunately, President Biden refuses to engage.”

“President Biden said, ‘No, we want to keep spending, and we want to keep raising the debt limit. But we don’t want to do anything about reforming spending.’”

“These unrealistic declarations by the President don’t make him look tough. They just make him look out of touch.”

“This isn’t a monarchy. We got rid of a king a long time ago. This isn’t the Biden empire, and the President’s wishes can only count for so much.”

“President Biden has wasted months already with his reckless position, and it’s time to get moving. I appreciate Speaker McCarthy’s efforts to break the stalemate and get President Biden to join him at the negotiating table.”

“The only way to avoid a debt crisis is through bipartisan negotiation. Republicans have known that all along. Many Democrats are now acknowledging that as well, and it’s time for President Biden to get the message.”